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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ »  Chinese Coal Industry Affected By Falling Oil Prices

Chinese Coal Industry Affected By Falling Oil Prices

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SHARK aka TAH

SHARK aka TAH
Expert
Expert
 Chinese Coal Industry Affected By Falling Oil Prices 50c078f0ee21772a38213187a27ff931_L
China's coal companies are having a hard time selling their coal even as winter sets in. China’s National Coal Association says that’s because seven in 10 Chinese coal companies are losing money as supply far exceeds demand.

Coal producers say their main clients, namely concrete and steel factories, have already bought enough coal. Meanwhile, power companies used 15 percent less coal to generate electricity in October.

The China Electricity Council says factories have been using less electricity for production because of an economic slowdown. As a result, power companies have hit a three-year low in the amount of coal they use to generate electricity. That comes as coal companies continue to produce more coal than is needed.

Analysts say falling international oil prices are also weighing on Chinese coal chemical companies. Coal-to-liquid projects would suffer losses if international oil prices fall below 70 US dollars per barrel. The former director of the National Energy Administration Zhang Guotao says investments in coal chemicals should be cautious because the cost advantages have disappeared.

bandulawee


Manager - Equity Analytics
Manager - Equity Analytics
So what is the problem. The Chinese can speak to our CEB (whoever who takes decisions) and sign an agreement for the next ten years to sell any amount of Coal at any price they want to the Norochchalai power plant.

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